Shanghai: Rongsheng Heavy Industries has announced that it has received a copy of an Application of Civil Appeal filed by Aegon Industrial Fund with the High People’s Court of Jiangsu Province against China’s largest private shipyard.
Earlier this month Aegon Industrial Fund lost its lawsuit against Rongsheng on its serious loss led by Rongsheng’s withdrawn acquisition of Quanchai Group.
Aegon Industrial Fund now is seeking an order from the High Court to revoke the decision of Nantong People’s Court in respect of the action and a compensation from Rongsheng Heavy Industries for the loss it allegedly suffered – some RMB16,370,200 – as a result of Rongsheng Heavy Industries’ alleged fault in concluding the contract to buy out the engine maker.
Rongsheng said that it intends to strenuously defend the Application of Civil Appeal. [30/01/13]
